Rumors are flying that Microsoft may just be killing off it's high-end Xbox 360 model, the Elite. The news comes from FUDZilla, and will reportedly happen sometime during the second quarter of this year.

The hardware that the Elite features will apparently be saved only for the Limited Edition Xbox 360 models, but apparently Microsoft will be introducing a larger hard drive for the 360, which will have more storage space than the current 120GB. So how will it all go down? Apparently in the second quarter, as mentioned, Microsoft will stop taking order for the Elite. They'll let the current inventory dry up, and then the only way you'll be able to pick up Elite-style hardware is if you fork out for a Limited Edition console, much like the Resident Evil 5 model.

I, personally, own an Elite and find it fantastic. So why would Microsoft do this? Well, apparently, the decision is based on the economy. Many retailers don't want the Elite model clogging up their shelves, as they tend to sit there and collect dust much longer than the cheaper models. They'd rather have room for the cheaper models, because they sell faster and generate more profit. Perhaps Microsoft could save the Elite model for online ordering only? Who knows. Maybe the Elite won't go after all, only time will tell.

What are your thoughts? Do you not mind if the Elite gets discontinued, or would you like it to stick around? Keep your eyes peeled to see if Microsoft will go through with the rumor, or if it will keep producing the Elite model.